The Buried
Footnote Forensic Linguistics Analysis
on Corporate Disclosure Documents
Year-over-Year Drift CNQ
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Certainty language minus hedging language in Risk Factors. Positive = assertive, negative = hedging-heavy.

Not enough filings yet to chart a trajectory. The EKG fills in as more filings are ingested for this issuer.

Risk-factor drift item_1a vs prior same-form filing, cosine similarity

  • 40-F 2026-03-26 vs 2025-03-26 98.0% boilerplate
  • 40-F 2025-03-26 vs 2024-03-20 97.3% boilerplate
  • 40-F 2024-03-20 vs 2023-03-23 96.9% boilerplate
  • 40-F 2023-03-23 vs 2022-03-23 97.8% boilerplate

Balance-sheet trends inventory, receivables, reserves & impairment vs prior year

  • Receivables building faster than sales FY 2024-12-31
    receivables +29% vs revenue -1% · DSO 32.4→42.2 days
  • Inventory building faster than sales FY 2024-12-31
    inventory +37% vs revenue -1%
  • Inventory building faster than sales FY 2023-12-31
    inventory +12% vs revenue -15%